Hartford 4Q Profit $620M, A Quarterly Record

NU Online News Service, Jan. 27, 12:14 p.m. EST

For full-year 2004, the Hartford, Conn.-based carrier posted a record net income of $2.1 billion?rebounding from a net loss of $91 million during 2003, which was hurt by a first-quarter $1.7 billion after-tax reserve for asbestos claims.

For the 2004 fourth quarter, The Hartford's property-casualty operations reported "its most profitable quarter ever," with operating income of $331 million even with a moderating p-c cycle, said Ramani Ayer, chairman and chief executive officer of The Hartford.

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